News
Moody’s Ratings, one of the world’s major credit-rating agencies, has upgraded Egypt’s long-term credit rating to B3 from its previous level, maintaining a positive outlook as the country makes progress on economic reforms, strengthens its foreign currency reserves, and works to reduce government debt. The Egyptian Cabinet announced the upgrade on Saturday, 17 October, saying the decision reflects improvements in the country’s economic performance and its ability to meet its financial obligations. Moody’s also upgraded its ratings for Egypt’s…
